Covid U: Business Lessons from a Pandemic

150 Pages·2022·10.953 MB·English

by  Jay Prag, Amanda Ishak Prag

m
o
c
c.
ntifi
e
ci
s
d
orl
w
w.
w
w
m
o
d fr
e
d
a
o
nl
w
o
D
TTThhhiiisss pppaaagggeee iiinnnttteeennntttiiiooonnnaaallllllyyy llleeefffttt bbblllaaannnkkk
m
o
c
c.
ntifi
e
ci
s
d
orl
w
w.
w
w
m
o
d fr
e
d
a
o
nl
w
o
D
m
o
c
c.
ntifi
e
ci
s
d
orl
w
w.
w
w
m
o
d fr
e
d
a
o
nl
w
o
D
Published by
World Scientific Publishing Co. Pte. Ltd.
5 Toh Tuck Link, Singapore 596224
USA office: 27 Warren Street, Suite 401-402, Hackensack, NJ 07601
UK office: 57 Shelton Street, Covent Garden, London WC2H 9HE
Library of Congress Control Number: 2022948961
British Library Cataloguing-in-Publication Data
A catalogue record for this book is available from the British Library.
m
o
c
c.
ntifi COVID-U
e Business Lessons from a Pandemic
ci
s
d
orl Copyright © 2023 by World Scientific Publishing Co. Pte. Ltd.
w
w. All rights reserved. This book, or parts thereof, may not be reproduced in any form or by any means,
w electronic or mechanical, including photocopying, recording or any information storage and retrieval
w
m system now known or to be invented, without written permission from the publisher.
o
d fr
e
d
a
o
nl For photocopying of material in this volume, please pay a copying fee through the Copyright Clearance
w
o Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, USA. In this case permission to photocopy
D
is not required from the publisher.
ISBN 978-981-126-772-7 (hardcover)
ISBN 978-981-126-773-4 (ebook for institutions)
ISBN 978-981-126-774-1 (ebook for individuals)
For any available supplementary material, please visit
https://www.worldscientific.com/worldscibooks/10.1142/13181#t=suppl
Desk Editor: Ong Shi Min Nicole
Typeset by Stallion Press
Email: [email protected]
Printed in Singapore
Contents
Acknowledgments ix
m
o About the Authors xi
c
c.
ntifi Prologue xiii
e
ci
ds COVID-19 Pandemic: Definition of Phases xix
orl
w
w.
w
w
m Chapter 1 Introduction: Never Waste a Good Pandemic 1
o
d fr Why Business? 2
e
d
oa Concept Review: Data 3
nl
w Interesting Aside 5
o
D
Mini Case: Meta 5
Discussion Questions 7
Chapter 2 Pandora’s Box 8
Concept Review: Utility Theory 11
People, People, People 16
Mini Case: Baskin Robbins 16
Discussion Questions 17
Chapter 3 Competitive Advantage, Meet Covid 19
Benefit Drivers 20
Cost Drivers 25
Concept Review: Make vs. Buy 26
v
vi COVID-U: Business Lessons from a Pandemic
Mini Case: Tesla 28
Discussion Questions 29
Chapter 4 High Noon: Corporate Culture 31
Concept Review: Tribal Culture 32
In the News 35
Mini Case: McDonald’s 37
Discussion Questions 38
Chapter 5 Office Lost 39
Non-Verbal Communication 41
Matching Medium to Message 42
Concept Review: Modes of Leadership 43
m
co Interesting Aside 47
c.
ntifi Mini Case: Google 48
e
ci Discussion Questions 49
s
d
orl
w Chapter 6 Lucky or Good? 51
w.
w
w Concept Review: Economies of Scale 52
m
o In The News: Housing Prices Go Through the
ed fr Roof During Covid 57
d
a
o Mini Case: Moderna 58
nl
w
o Discussion Questions 59
D

Chapter 7 Right Place, Right Time 61
Apple, Inc.: A Focus on Accessibility 63
Amazon.com: A Focus on Proliferation 64
Target: A Focus on Reliability 65
Costco: A Focus on… Focus 66
Disney: A Focus on Diversification 67
Concept Review: Game Theory, Sequential
Games, & Early Mover Advantages 69
Interesting Aside 75
Mini Case: Starbucks 75
Discussion Questions 77
Contents vii
Chapter 8 If Your Home Is Your Castle, Is It Time to Re-moat? 78
Concept Review: Commitments 80
The Great Resignation, Redux 83
Interesting Aside 85
Mini Case: Ulta Beauty, Inc. 85
Discussion Questions 86
Chapter 9 Marketing with a Mask 87
Concept Review: Substitutes and the Test Drive 89
Mini Case: Gillette 95
Discussion Questions 96
Epilogue Hello From the Other Side 98
m
o
c.c Concept Review: Macroeconomics 100
ntifi Mini Case: The Future of the Grocery Store 105
e
sci Discussion Questions 106
d
orl
w
w.
w Glossary of Companies & Brands 109
w
m
o Glossary of Terms 115
d fr
e
d Notes on Discussion Questions 119
a
o
nl
w
o Index 127
D
TTThhhiiisss pppaaagggeee iiinnnttteeennntttiiiooonnnaaallllllyyy llleeefffttt bbblllaaannnkkk
m
o
c
c.
ntifi
e
ci
s
d
orl
w
w.
w
w
m
o
d fr
e
d
a
o
nl
w
o
D
9”x6” b4778 COVID-U: Business Lessons from a Pandemic
Acknowledgments
COVID-19 forever changed the lives of millions of people around the world.
m As much as this book tries to take a positivist look at negative events, we
o
c.c acknowledge that this writing does not address the suffering encountered
ntifi by those affected by the pandemic. We are not thankful for the opportunity
e
sci to explore such events. We wish the topic of this book had never emerged.
d
orl As academics, we are aware that we think for a living. That’s it. So,
w
w. our sincerest thanks go out to everyone who helped facilitate this writing,
w
w
m especially Samir and Frieda Ishak, without whom this book would
o
d fr never have been possible. We are also grateful to the many colleagues
e
d who reviewed our work: your dedication to research and truth has been
a
o
nl invaluable to this process. We would also like to thank Ong Shi Min Nicole
w
o
D and all of the people at World Scientific Publishing who helped to bring

this book to fruition.
Our daughter, Julianna, was three months old when the world shut
down in early 2020. By some counts, that makes her a Pandemic Baby
(maybe). Her resilience inspires us every day. She went down “the big
red slide” at the playground the other day. That’s what matters. This book
doesn’t. And, ultimately, we acknowledge that.
ix